Mar.10 (GMM) Ross Brawn on Tuesday insisted Nick Fry retains his role as chief executive at the team formerly known as Honda.

In a management buyout, 2008 team boss Brawn assumed 100 per cent of the shares of the team, which has been renamed 'Brawn GP' in the wake of Honda's withdrawal.

Intense speculation has surrounded Fry's involvement in the buyout, with rumours suggesting the controversial figure may have been marginalised amid the shakeup.

But addressing the media at Barcelona on Tuesday, where Rubens Barrichello is testing the impressive BGP001 car, Brawn confirmed that 52-year-old Fry remains at work at Brackley.

"Nick has been a key member of the team," he said. "He retains his position as CEO and will be a vital member for the future.

"Nick's position hasn't changed, despite the speculation, and he has been a vital part of putting this all together."

Brawn also said his buyout was the only chance to save "the majority" of the 700 jobs of the British based team.

"There were no choices," he explained. "If the management group - because it is not just myself - had not taken this task on, there would be no team. Then all of the staff would have been made redundant."

Brawn revealed that the BGP001 is currently not equipped with a KERS system, and also that Mercedes-Benz was selected as engine supplier because its V8 unit fitted the chassis better than Ferrari's.